Following the massive success of Bitcoin and Ethereum, more cryptocurrencies come into the market, and so do the investment sites. Today, there are tens of cryptocurrency investment sites offering bitcoin exchanges and other digital currencies. Unfortunately, not all of them are legit, and cryptocurrency still faces regulation issues. Even though it is considering, the investment world generally still doesn’t accept cryptocurrency as a settled investment portfolio. On the other hand, interest in investing in digital currency has been massively growing.
Many irresponsible parties take advantage of these gaps through illegitimate cryptocurrency buying sites online. They may scam clients with fake offerings, trading, mining, pump & dump schemes, and even malware. At this point, it’s imperative to find a genuine cryptocurrency investment site. Let’s check our guide below.
Use Crypto Scam Investigator
Check the authenticity of a cryptocurrency trading site on reputable scam investigator sites for crypto brokers. These sites typically have an updated list of scam brokers that offer illegitimate crypto sale and trading services. They also have pages of authenticated crypto exchange and brokerage sites with genuine status. You can check whether a crypto investment site is on the blacklist or a real page. If you can’t find it, you may request a further investigation from the provider.
Learn Mechanism on Their Whitepaper
Whitepaper of cryptocurrency projects is an insightful resource to identify whether a litecoin investment is legit or not. You wouldn’t have to be an expert to find irregularities in the whitepaper, especially when it comes to the maximum altcoins supply. Any cryptocurrency supply under 10 million should not be your priority, and if what they offer convinces you, then research it further.
Remember, all scammers would offer high rates of returns to attract more new investors. Cryptocurrencies are a highly volatile asset, so promising such high returns is an exaggerating claim. At this point, it’s essential to research the potential returns of holding, trading, and mining on cryptocurrency investment. Brokers who trade cryptocurrency on your behalf can’t tell how much they can exactly earn profits. In other words, no genuine crypto investment firms promise a particular number of returns.
Reputable cryptocurrency investment sites must have advanced security on their platforms. At this point, you can research how they employ their security protocols and see whether they’ve applied top measurements before you buy cryptocurrency from them. A simple way to figure out this element is by checking whether they have that security check on the search engine result. Avoid unsafe websites as they may contain malware that can steal your personal and financial data as soon as you sign up for an account or click any button on these sites.
Check Availability of Altcoins on Airdrop Sites
Another eligible way to identify a genuine cryptocurrency investment site is by checking them on reputable airdrop sites. When it comes to altcoins, there are hundreds of options, and airdrop sites have the initiative to present them on their page. These sites list down crypto projects along with their stats and link to their website. Reputable airdrop sites only list credible altcoins that you can choose from. Check whether the crypto investment site is on the airdrop list.
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